Project Profile
Location: Canning Basin, Western Australia, 180km south of Fitzroy Crossing, Australia
Area: 5,900km²
The Laurel Project covers an area of 5,900km² (1.46 million gross acres) and is located in the Canning Basin, Western Australia (180km south of Fitzroy Crossing) in Australia. New Standard Onshore Pty Ltd is the operator of the project with 100% interest. The hydrocarbon bearing qualities of the Laurel formation prompted New Standard to establish a strategic position in the northern section of the Canning Basin. Recent drilling success of the Laurel formation in this region within the Fitzroy Trough has supported New Standard’s strategy. The Laurel formation is a rich regional source rock that is comprised of a stacked series of reservoir sands and shales. The Laurel formation, which is more than 1,300m thick in parts, extends throughout the Fitzroy Trough in the Canning Basin, including New Standard’s EP417 and the Seven Lakes SPA, which comprise New Standard’s Laurel Project.
The Laurel play is emerging as a regional resource play with a growing database of results supporting its prospectivity. Exploration activity is increasingly significantly throughout the region and the Laurel play is demonstrating exceptional potential with significant amounts of both gas and condensate from the Laurel formation encountered in exploration wells where hydrocarbons flowed to surface in the case of both the Yulleroo-2 and Valhalla-2 wells. The Laurel play represents a strategic option over a large acreage position in an emerging play that is being de-risked by other exploration efforts in the region and New Standard and its shareholders stand to benefit from this work.
Operators:
New Standard Energy: Operator with 100% interest